PNC Financial Services Group Inc. Acquires 318 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

PNC Financial Services Group Inc. raised its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,643 shares of the construction company’s stock after purchasing an additional 318 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Simpson Manufacturing were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Place Capital Corp acquired a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $29,000. World Investment Advisors LLC acquired a new stake in shares of Simpson Manufacturing in the third quarter valued at about $30,000. R Squared Ltd acquired a new position in Simpson Manufacturing during the fourth quarter worth approximately $30,000. UMB Bank n.a. increased its position in Simpson Manufacturing by 88.2% during the fourth quarter. UMB Bank n.a. now owns 207 shares of the construction company’s stock worth $34,000 after buying an additional 97 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Simpson Manufacturing during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Trading Down 0.8 %

Shares of NYSE:SSD opened at $155.51 on Friday. Simpson Manufacturing Co., Inc. has a 12-month low of $152.74 and a 12-month high of $206.48. The stock has a market cap of $6.56 billion, a PE ratio of 20.46 and a beta of 1.39. The business has a 50 day moving average of $165.38 and a 200-day moving average of $175.64. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. As a group, equities research analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.74%.

Insider Activity at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the sale, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SSD. Robert W. Baird lowered their price target on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. DA Davidson lowered their price target on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.